- SBF was a significant political donor.
- Industry professionals have questioned why SBF has not yet been arrested.
- Bankman`s actual support of Democratic elections is probably over $1B.
Sam Bankman-Fried, the former CEO of FTX, was a significant political donor. He hasn’t been arrested yet, according to the rumor, because of this. SBF contributed $5.2 million to Joe Biden’s presidential campaign and contributed an additional $40 million, mostly to Democratic politicians.
This happened before the midterm elections in November. Bankman-Fried often met with politicians and authorities to discuss how the cryptocurrency business should be governed.
He was an outspoken supporter of one bill in particular: the bipartisan Digital Commodities Consumer Protection Act (DCCPA), which is still being worked on and is supported by Sen. Debbie Stabenow (D-Mich.), the chairwoman of the Senate Agriculture Committee, and Sen. John Boozman, the ranking senator (R-Ark.).
Following all of this, industry professionals on Twitter have questioned why Sam Bankman-Fried has not yet been arrested.
For instance, attorney Jake Chervinsky believes that SBF will never be detained by Bahamas law enforcement. He also believes that the US-led extradition procedure would be drawn out as a result of his arrest. This will ultimately be successful, but only if he doesn’t first flee to a nation that doesn’t extradite people.
On the other hand, Elon Musk, the current Twitter CEO replies to Will Manidis, the CEO at ScienceDotIO. According to Will, SBF donating $40m to not go to jail for stealing $10b+ is one of the highest ROI trades of all time.
Elon replies that the amount is just the publicly disclosed number. His actual support of Democratic elections is probably over $1B. The money went somewhere, so where did it go?
Amid all this, SBF earlier said that he was a significant donor in both the D and R primaries. He supported unbiased politicians who would work to stop pandemics and foster bipartisanship in Washington, DC. He also says that he backed permissionless financing while working with them.
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